Wayfair (NYSE:W) Reaches New 1-Year High – Should You Buy?

Shares of Wayfair Inc. (NYSE:W) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $115.80 and last traded at $110.9250, with a volume of 311340 shares. The stock had previously closed at $109.60.

Analyst Ratings Changes

A number of analysts have commented on W shares. Royal Bank Of Canada raised their price objective on Wayfair from $51.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Guggenheim raised their target price on Wayfair from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. BMO Capital Markets set a $110.00 price target on shares of Wayfair and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Stifel Nicolaus set a $100.00 price objective on shares of Wayfair in a research note on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 target price on Wayfair in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and a consensus price target of $105.29.

Wayfair Stock Up 3.3%

The stock has a fifty day moving average of $102.72 and a 200-day moving average of $84.28. The firm has a market capitalization of $14.81 billion, a P/E ratio of -44.37 and a beta of 3.31.

Wayfair (NYSE:W) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.26. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts forecast that Wayfair Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Niraj Shah sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $102.32, for a total transaction of $3,069,600.00. Following the completion of the sale, the chief executive officer owned 439,137 shares of the company’s stock, valued at approximately $44,932,497.84. This represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Fiona Tan sold 6,347 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $100.54, for a total value of $638,127.38. Following the completion of the transaction, the chief technology officer directly owned 198,860 shares of the company’s stock, valued at approximately $19,993,384.40. The trade was a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,127,453 shares of company stock worth $108,127,287. 21.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently bought and sold shares of W. Capital World Investors grew its position in shares of Wayfair by 4.1% during the 3rd quarter. Capital World Investors now owns 13,374,574 shares of the company’s stock valued at $1,194,750,000 after acquiring an additional 521,240 shares during the period. Vanguard Group Inc. lifted its position in shares of Wayfair by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,562,050 shares of the company’s stock valued at $854,178,000 after buying an additional 397,572 shares during the last quarter. Spruce House Investment Management LLC grew its stake in shares of Wayfair by 37.6% during the 2nd quarter. Spruce House Investment Management LLC now owns 3,000,000 shares of the company’s stock worth $153,420,000 after acquiring an additional 819,615 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Wayfair by 826.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock worth $251,648,000 after acquiring an additional 2,512,854 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Wayfair by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,661,496 shares of the company’s stock valued at $84,985,000 after purchasing an additional 59,083 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.